Daily GK Update: 1st June 2023

 National & International Appointments

1. Govt appoints Ashwani Kumar as UCO Bank MD & CEO

• The Appointments Committee of the Cabinet (ACC) has approved the appointment of Ashwani Kumar as Managing Director and CEO of UCO Bank.
• He has replaced Soma Sankara Prasad, who superannuated on May 31, 2023.
• Prior to this, he served as an Executive Director at Indian Bank.
• He would lead the public sector bank for a period of three years from June 1, 2023.
• He would also be eligible for an extension of the term of office, after a review of his performance.

 National & International Appointments

2. Ajay Yadav appointed MD of Solar Energy Corporation of India Limited

• Ajay Yadav has been appointed as the Managing Director of Solar Energy Corporation of India Limited (SECI).
• He is a 2005 batch IAS officer of the Bihar cadre.
• SECI is a Miniratna Category-I Central Public Sector Enterprise (CPSE).
• It was incorporated in the year 2011.
• It is the primary implementing agency of the Ministry of New and Renewable Energy for Renewable Energy schemes/projects towards the fulfillment of India's international commitments.

 National Affairs

3. MeitY launches pilot project on Electronics Repair Services Outsourcing

• Ministry of Electronics and Information Technology (Meity) has launched the Electronics Repair Services Outsourcing (ERSO) Pilot initiative.
• Aim: To validate certain transformational policy and process changes to make India the Repair Capital of the World
• The pilot project is being conducted in Bengaluru and will run for three months.
• The government has supported this project to make India a world leader in a hitherto untapped domain.

 National Affairs

4. Cabinet approves scheme to increase grain storage capacity

• The Cabinet has approved the constitution and empowerment of an Inter-Ministerial Committee for the facilitation of the “World’s Largest Grain Storage Plan in Cooperative Sector”.
• This will be done by the convergence of various schemes of the Ministry of Agriculture, Ministry of Consumer Affairs, Food and Public Distribution, and Ministry of Food Processing Industries.
• Ministry of Cooperation will implement a pilot project in at least ten selected districts.

 Schemes

5. Cabinet approves City Investments to Innovate, Integrate and Sustain 2.0

• The City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0) has been approved for four years (2023-2027).
• Conceived by: Ministry of Housing and Urban Affairs in partnership with the French Development Agency, Kreditanstalt für Wiederaufbau, the European Union (EU), and National Institute of Urban Affairs.
• Funding: A loan of Rs.1760 crore (EUR 200 million) from AFD and KfW and a technical assistance grant of Rs.106 cr. (EUR 12 million) from the EU

 National Affairs

6. India's GDP growth hits 7.2% for fiscal year 2022-23

• According to the Statistics Ministry's provisional estimate, India's GDP is pegged to grow at 7.2% during the fiscal year 2022-23.
• The data is 20 basis points higher than the government's second advance estimate of 7%.
• The GDP registered a growth of 6.1% in January-March 2023.
• Quarterly terms in 2022-23: 13.1% growth (Q1), 6.2% (Q2), and 4.5% (Q3)
• In the fourth quarter, the agricultural growth was estimated at 5.5% and Manufacturing growth at 4.5 %.

 Honours & Awards

7. AIIMS Nagpur is the first AIIMS to receive NABH accreditation

• All India Institute of Medical Sciences (AIIMS) Nagpur has become the first of all AIIMS to receive National Accreditation Board for Hospitals(NABH) accreditation.
• The NABH accreditation is a globally recognized standard for healthcare quality.
• It assesses the performance of hospitals in various areas including patient care, safety, and organizational efficiency.
• AIIMS Nagpur achieved this accreditation by demonstrating its commitment to excellence in all areas.

 Summits & Conferences

8. India-EU Connectivity Conference held in Meghalaya

• The India-EU Connectivity Conference is being organized in Meghalaya on June 1, 2023.
• It is jointly organized by the Ministry of External Affairs, EU Delegation to India, and the Asian Confluence.
• Aim: To explore possibilities of boosting connectivity investments in India’s North Eastern States and with India’s neighbours -- Nepal, Bhutan, and Bangladesh
• It was inaugurated by Meghalaya CM Conrad Sangma, and MoS for External Affairs Dr. Rajkumar Ranjan Singh.

 Banking & Finance

9. Bajaj Allianz Life launches term insurance plan for Type 2 diabetics

• Bajaj Allianz Life has launched an exclusive term insurance plan for Type 2 diabetic and pre-diabetic individuals.
• The Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c is first of its kind protection plan in the Indian life insurance industry.
• The insurer offers a 10% premium reduction for individuals trying to achieve health goals and other health management services.
• The policy term ranges from five to 25 years and premiums can be paid monthly/annually.

 Banking & Finance

10. Aegon first to provide life insurance cover for surrogate mothers

• Aegon Life has become the first insurance company to launch a policy that covers surrogate mothers and egg donors.
• Aim: To support the financial well-being of surrogate mothers and egg donors
• The new cover aligns with the Surrogacy (Regulation) Act, 2021 and the Assisted Reproductive Technology (Regulation) Act, 2021, introduced by the Ministry of Health & Family Welfare.
• It provides a three-year life cover for surrogate mothers and a one-year cover for egg donors

 International Affairs

11. India emerges as key source country for FDI into Dubai

• According to a report released by 'fDi Markets’, a service from UK’s Financial Times Ltd, India has emerged as a key source country for FDI in Dubai, one of the wealthiest of the seven emirates in UAE.
• The top sectors by FDI projects from India into Dubai in 2022 were software & IT services (32%), business services (19%), consumer products, real estate, and financial services.
• The top sectors by FDI capital from India into Dubai in 2022 were consumer products (28%).

 International Affairs

12. Pakistan, Afghanistan among global hunger hotspots: UN report

• According to the UN's Hunger Hotspots – FAO-WFP early warnings on acute food insecurity report, Pakistan, Afghanistan, and Myanmar, are among the hunger hotspots in the world.
• Globally Hunger is set to worsen in 18 'hotspots' comprising a total of 22 countries.
• Highest Concern Nations: Afghanistan, Nigeria, Somalia, South Sudan, and Yemen
• Very High Concern Nations: Pakistan, the Central African Republic, Ethiopia, Kenya, Congo, and Syria

 Obituaries

13. Padamashree Dr Ved Kumari Ghai passes away

• A noted Sanskrit scholar Dr. Ved Kumari Ghai passed away at 91.
• She was an Indian Sanskrit scholar from Jammu City, J&K, and was head of the Sanskrit department at Jammu University.
• She was awarded the Padma Shri (India's fourth highest civilian award), a Certificate for her scholarship in Sanskrit, and President’s Award for Sanskrit.
• She was also awarded Gold Medal by Jammu and Kashmir Government for social work and the Dogra Ratan award.